Meta lifts 2026 capex outlook to $125-$145B as Q1 profit jumps 61%

On May 23, 2026, Meta said it lifted its 2026 capital expenditure outlook to $125-$145 billion, nearly doubling its 2025 capex of $72.2 billion, even as it posted record Q1 results. Q1 revenue rose 33% to $56.3 billion and profit climbed 61% to $26.8 billion, but the shares fell 6% after hours as investors questioned when AI spending will translate into returns.